Life Insurance

Most commonly referred to as Term Life Cover, this type of benefit provides coverage (in the form of a cash Lump sum) in the event of death and, often these days, includes a terminal illness benefit for payment of part of the death benefit on the diagnosis of a terminal illness.

Previously it was common to have life insurance with a cash value (you may recall hearing from friends or relatives that they decided to “cash in” a life policy) , however, these days life insurance policies tend to be written as risk only (no savings component) in order to minimise the premium.

PROPER ADVICE AND PLANNING FOR THE AMOUNT OF RISK AND THE APPROPRIATE OWNERSHIP OF THE POLICY IS ESSENTIAL TO ENSURING THAT THE RIGHT MONEY ENDS UP IN THE RIGHT HANDS AT THE RIGHT TIME.